Current Rates?

Discussion in Mortgage & House Payments started by Penny • Jan 1, 2017.

  1. Penny

    PennyActive Member

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    What mortgage rates do you guys have? I have a good credit score and have paid my mortgage on time for a year. My rate is 4.25% and I am waiting if I should try to renegotiate or refinance. But I would need to gain a significantly better rate for it to be worth the time and trouble. I don't want to throw away money though.
     
  2. Vinaya

    VinayaActive Member

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    Currently I have loans on two banks, I burrowed for the purpose of business. I am paying 9 and 10 percent per year interest rate. In our country this is one of the lowest interest rate because there banks and finance institutes that charge up to 24 percent per year.
     
  3. ptahm22

    ptahm22Active Member

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    The mortgage rates in our country were recently lowered. One of the loans I have used to charge 9.13% but now I'm paying 8.54%. I recently applied for another loan and I was approved. This second loan has a rate of 8.9%.
     
  4. luckycharm

    luckycharmActive Member

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    Here gold loans are paid at the rate of 12% interest rate. But there is a special scheme for farmers which takes only 4% as interest rate. In fact it charges you 7% interest rate and at the end of financial year 3% is adjusted in your loan amount. Taking advantage of this situation a lot of people use this facility event though they are not farmers.

    4.25% interest rate is quite awesome and we never get such low interest rates here. Even if you give gold as security they will charge you 12% or more.
     
  5. Jamille

    JamilleActive Member

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    4.25% p.a. is a very competitive rate. Here, our government's housing agency implements Affordable Housing Program which grants housing loan to low income earners at a low rate of 4.5% p.a.. For regular housing loans, the rate varies according to the term the highest being 10% fixed annual interest for 30-year loans. Some private banks even offer much lower rates for regular housing loans starting at 5.5%. The rates are influenced by the borrower's credit score, the value of the property, interest fixing period, and the repayment term.